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POLICY UPDATE 🧐
Friends Life was purchased by Aviva and no longer offers policies in its own right.
Friends Life offer a flexible range of term cover options including level term, decreasing, renewable, mortgage and a family income benefit.
In addition to the standard life cover available, they also provide you with access to Best Doctors, allowing you the opportunity to get advice from the experts.
Furthermore, the life cover plan provided by Friends Life provides you with access to Bupa’s Healthline, 24 hours a day, 7 days a week. A comprehensive life cover plan that provides you with the flexibility to tailor the plan to your specific circumstances.
An overview of the key policy details of Friends Life Insurance proposition.
Overview of Key Policy Details
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Policy Type | Life Insurance |
Policy Options | Level Term Insurance, Decreasing Term Insurance, Mortgage Protection Term, Renewable Term and Family Income Benefit |
Policy Coverage | Single or joint life cover is available on a first death basis with a replacement option for the second life. Life of another is also offered under this plan |
Underwriting | Full Medical Underwriting |
Premium Type | Guaranteed and Reviewable |
Terminal Illness Cover | Yes |
Optional Critical Illness Cover | Yes. Friends Life also offer a Life Cover with Critical Illness plan |
Critical Illnesses Covered | 51 conditions are covered |
Children’s Critical Illness Cover | Yes. Up to age 18, or up to age 21 if not in full time employment including intensive care benefit |
Indexation | Optional |
Waiver of Premium | Optional |
Maximum Cover | £10,000,000 for Life Cover, £3,000,000 for Life Cover with Critical Illness |
Minimum Cover | No Minimum |
Max. Policy Term | The level, mortgage and decreasing term cover options have a maximum policy term of 40 years. The renewable term option is 10 years |
Min. Policy Term | 3 years |
Min. Entry Age | 18 years of age |
Max. Entry Age | 74 years of age |
Guaranteed Insurability | Yes |
Policy Exclusions | Exclusions apply for pre-existing conditions under the critical illness option |
Application Process | We can arrange for a paper application, however we would recommend that you complete your application with one of our independent insurance experts over the telephone on 0208 432 7333. This is to ensure that you have not missed anything and will not risk any failed claims due to non-disclosure in the future |
Claims Telephone Number | Claims can be made via post or via telephone on 0845 600 3122 |
Other Friends Life Policies |
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In addition to paying out a lump sum, Life cover with Friends Life can also offer an annual family income benefit during the cover term. This can help to replace lost future income on the event of your death or diagnosis of a terminal illness.
Terminal illness is also included in the life cover plan, which will provide you with a payment if you are diagnosed with a terminal illness with a life expectancy of no more than 12 months.
Friends Life also offer life cover with critical illness, which can help protect your family from financial hardship if they fall ill or protect your dependents should you pass away.
Under their critical illness option, Friends Life include a comprehensive list of 51 conditions and operations with a wide a variety of additional services – including access to free health information and support through the Bupa HealthLine plus access to Best Doctors.
A series of commonly asked questions with regards to the policy coverage of the Friends Life term assurance policies.
Q. I have a mortgage, which cover term option would work best for me with this Friends Life policy?
A. Friends Life offer a little extra help for anyone with a mortage. In addition to their decreasing term cover option, they also offer a mortgage protection term option. This works in a similar way to the decreasing term but protects you with a guarantee that it will cover the mortgage on the event of your death or diagnosis of a terminal illness
Q. We are considering a joint life insurance cover, what happens after the first death payout with Friends Life?
A. The lump sum payout will be provided after the first death. In most cases this will then lead to expiry of the policy.
However, Friends Life do offer a replacement option for the second life on the policy under the life cover and a reinstatement option for critical illness. If the cover is a joint cover and one person has already made a claim or has died, the other person covered can take out a new cover. In this case the maximum cover would match the previous policy. The replacement option is only available to anyone under 50 ears old. The previous coverage term also must still have more than five years remaining.
In regards to critical illness cover, the reinstatement option provides limited cover to the remaining person on the policy. The reinstated critical illness cover will only include 15 conditions.